Summary of the most important events for the week ending April 23rd
Last week was less quiet than the previous week in terms of economic data released, and for the dollar, this was the third weekly loss in 6 weeks. In the week ending April 23rd, the spot dollar index fell 0.76% to 90.859. In the previous week, the dollar fell 0.66% to 91.556.
In the United States, it was a quieter week in terms of economic data, and the main statistics included weekly unemployment claims and preliminary figures for the PMI for the private sector for the month of April, and in the week ending on April 16, initial jobless claims decreased from 586 thousand to 547 thousand, and economists had expected an increase. To 617 thousand.
Private sector PMIs were also positive for riskier assets, and in April, the manufacturing PMI rose from 59.1 to 60.6, with the services PMI rising from 60.4 to 63.1, and economists expected PMI to be at 60.5 and 61.9, respectively. .
In the equity markets, the Dow Jones index is down 0.46%, with the Nasdaq and S & P500 indexes falling 0.25% and 0.13%, respectively.
In the United Kingdom, it was a busy week. In the first half of the week, employment and inflation numbers were in focus, the statistics were skewed to positive, and the more modest decline in employment supported the fall in the unemployment rate in February to 4.9%. There has also been a more modest rise in the number of claimants, despite slowing wage growth.
Inflationary pressures rose in March, with the annual UK inflation rate accelerating from 0.4% to 0.7%, and the recovery in wholesale inflationary pressures indicated a near-term rise in consumer prices. At the end of the week, retail sales and PMIs for the private sector dazzled.
In March, core retail sales jumped 4.9%, after an increase of 2.5% in February. Retail sales rose 5.4% after rising 2.2% in February. From the private sector, activity in the services and manufacturing sectors rebounded at the beginning of the quarter.
The all-important service PMI rose from 56.3 to 60.1, with the manufacturing PMI rising from 58.9 to 60.7, and during the week, the pound rose 0.70% to end the week at $ 1.3876. In the previous week, the pound rose 0.53% to $ 1.3779.
In the euro area, it was a relatively busy week in terms of economic data, before a busy Friday, and the main statistics included German wholesale inflation and consumer confidence figures in the euro area, and at the end of the week, the focus was also on the preliminary numbers of the PMI for the private sector for April. Is skewed to positivity, and inflationary pressures increased in bulk, with improved consumer confidence in the euro area, and PMIs for the private sector were skewed towards positivity.
While private sector activity in Germany expanded at a marginally slower rate, the services sector in the euro area returned to growth for the first time since August 2020.At the start of the quarter, the Eurozone manufacturing PMI hit a new all-time high, supporting a rise in the PMI. Composite purchases to a 9-month high of 53.7.
On the monetary front, the European Central Bank was also operating during the week. In line with market expectations, the European Central Bank stood calmly on monetary policy, confirming continued support, and the decision to stand in a positive stance for major European companies.
During the week, the Euro gained 1.00% to $ 1.2097. In the previous week, the euro rose 0.66% to $ 1.1977.